Reading International Inc · NASDAQ:RDI
Reading International — Gabelli & Company 6th Annual Movie & Entertainment Conference (June 2014)
26 slides from Reading International's conference presentation, Jun 6, 2014
Slide 1: Gabelli & Company 6th Annual Movie & Entertainment Conference
Gabelli & Company 6th Annual Movie & Entertainment Conference INTERNATIONAL Presented on June 5, 2014
Slide 2: Safe Harbor Statement
READING Safe Harbor Statement ara Our comments today may contain forward-looking statements and management may make additional forward-looking statements in response to your questions. Such written and oral disclosures are made pursuant to the Safe Harbor provision of the Private Securities Litigati
Slide 3: Financial Reconciliations
EADING INTERNATIONAL Financial Reconciliations Use of EBITDA; ‘We use EBITDA in our evaluation of our performance since we believe that EBITDA provides a useful measure of financial performance and value. We believe this principally for the following reasons ‘We believe that EBITDAis an industry com
Slide 4: Our Business
Our Business nants Develop, own, and operate internationally diversified entertainment and real property assets Q = Cinema Exhibition Q Real Estate > Real estate development
Slide 5: Cinema Exhibition and Real Estate Overview
READING INTERNATIONAL Cinema Exhibition: >» 56 Cinemas, 467 of screens > 12" largest by market share in U.S., 26 Cinemas / 249 screens > 4" largest by market share in Australia, 21 Cinemas / 165 screens > 3" largest by market share in New Zealand, 9 Cinemas / 53 screens Real Estate: > Undeveloped Re
Slide 6: Business Synergies
READING Business Synergies means Our two business segments complement one another : Q Comparatively consistent Cinema cash flows allow opportumstic acquisition and holding of real estate assets. Comparatively consistent Cinema cash flows help fund front-end real estate development cash demands. Q >
Slide 7: Worldwide cinema exhibition brands
We manage our worldwide cinema exhibition businesses under various different brands: Cc ngelika Film Center USA 8) ance {MG CENTER Rialto Cinemas NZ RIALTO CINEMAS
Slide 8: Real Estate
Real Estate READING the acquisition offee interestsin land for general real estate development; theredevelopment of our existing fee owned cinema or live theater
Slide 9: Equity Snapshot
READING Equity Snapshot maapine rm * 22.0 mil shares Class A Nonvoting Common, * 1.5 mil shares Class B Voting Common NASDAQ Listed: This Year Prior Year RDI RDI Price (Class Aand B) (05/28/2014) vs. (05/28/2013) $8.70 $1087$616 $6.50 Market Cap (Class A and B) 05/28/2014) vs. (05/28/2013): $207.8 m
Slide 10: Cinema Growth Strategy
EADING Cinema Growth Strategy teranarenss Large Circuit Acquisition Largest Grossing Box Office in Hawaii 16 Screens - 100% digitalized ¥ — 7Dolby Digital 3D ¥ TITAN XC Seren ¥ DOLBY ATMOS ¥ Reserved seating Cal Oaks O Single Cinema Acquisition QQ Acquired end of July 2011 Q $4.2 O17 Screens - 100%
Slide 11: Australia Asset Base
Australia Asset Base Australia Freehold v v v v v v v Auburn ETRC Belmont ETRC Bundaberg Maitland Melbourne Office Ne’ Waurm Ponds - Ground Lease iarket READING INTERNATIONAL Australia Leasehold KSER ERTS SS SS SAS Charlestown Chimside Park Dandenong Dubbo Elizabeth Epping Harbourtown Mandurah Melto
Slide 12: Australia Asset Base
EADING Australia Asset Base mets Cinema Assets > 21 Cinemas /16. reens oo > Under eloped Real Estate Properties > Acreage 56.5 > Gross Book Value $59.4Mil > DevelopedReal Estate Properties > Rental 168,000 square footage > Entertainment 124,000 square footage > Parking Structure Space 1,307 > Gross
Slide 13: Newmarket property
Q Bought the property in 1996 former quarry and brick manufacturing plant QO Located within a Major Activity Centre and identified by Whiteh Development. MilB “A ae
Slide 14: New Zealand Asset Base
READING New Zealand Asset Base iia New Zealand Freehold New Zealand Leasehold ¥ Courtenay Central ETRC NX ¥_ Palms (Christchurch) Y¥ Dunedin v Porirua Y Invercargill Y Queenstown Y¥ Manukau v Napier Y Rotorua v Lake Taupo
Slide 15: New Zealand Asset Base
New Zealand Asset Base stares Cinema Asse > 9 Cinemas / 53 screens Real Estat > Undeveloped Real Estate Properties > Acreage 72 > Gross Book Value $21.8Mil > DevelopedReal Estate Properties > Rental 63,000 square footage > Entertainment 137,000 square footage > Parking Structure Space 1,086 > Gross
Slide 16: Courtenay Central expansion
o ogre C 0 0 Project will open in late 2015 or early 2016 42,000 sq, ft. Countdown Supermarket The countdown brand is operated by Progressive Enterprises, who are owned by Woolworths, one of the largest and most solid companies in Australia Reconfigures about 10,000 sq. ft. of existing space Access
Slide 17: United States Asset Base
United States Asset Base eieits USA Leasehold nland AFC Dallas AFC Mosaic AFC NY AFC Plano Beekman Cal Oaks Carmel Mn Gaslamp Grossmont Manville Par Rohnert Park Tower ‘Town Square Valley Plaza Village East A Freehold US Y Cinema 123 v v v v v v Coachella Minetta Lane Orpheum Old Railroad Properties
Slide 18: United States Asset Base
United States Asset Base mainte Sse > 26 Cinemas /249 screens Real Estate: > Undeveloped Real Estate Properties > Acreage 202 > Gross Book Value $4.0Mil > DevelopedReal EstateProperties > Rental 59,000 square footage > Entertainment 75,000 square footage > Parking Structure Space 55 > Gross Book Val
Slide 19: Development Example
Cinemas 123 Development Example operty into a commerci one of the
Slide 20: Union Square Development Example
Union Square READING Development Example é
Slide 21: Reading's Long-Term Opportunities
Reading’s Long-Term READING Opportunities Increased Cinema segment ‘yield’ (via both pricing and attendance) through new premium offering’s (Gold Lounge, TITAN XC, DOLBY ATMOS, Digital 3D, Reserve seating) and unique niche branding (art and independent - AFC Angelika) Q Cinema industry consolidation
Slide 22: Reading's Competitive Advantage
Reading’s Competitive Advantage iranias Cinemas geographically clustered Niche Market (AFC) Scale creates purchasing pricing power Oocogo Owned entertainment real estate allows redevelopment to higher alternative use (e.g. Murray Hill, Sutton Hill, Cinema 123, Union Square) Q Long-held properties gi
Slide 23: Selected Financial Data
READIN Selected Financial Data "enten YTD March As of or for the Year Ended December 31, 2014 2013 2013 2012 2011 2010 Revenue 3 58053 § 50507 || § 258,221 § 254430 § 248,979 § 229,322 perating income $ 2581 § 2534 |] $ 20.935 $ 19,127 $18,178 $13,069 Income (loss) from discontinued operations $ - $
Slide 24: Yearly Financial Trend
arly Financial Trend 1 ai s2s0000 400 <0 8 é 300,000 = a ge ee ae ; 3 iss 28 CJ < 3 a : samo 5 s1c0000 ] g 3 é sto0on0
Slide 25: In Conclusion
READING In Conclusion sans QO We are a stable cinema business with stable cash flow QO) That pursues potential acquisitions when opportunities arise. QO) Has the ability to organically grow the segment internally. Q That is willing and able to mvest in building and maintamung its infrastructure to p
Slide 26: Thank You
THANK YOU waa a f ry INTERNATIONAL